Cashmere soap corporation had the following items listed in its trial balance at 12/31/2016:
currency and coins $ 650
balance in checking account 2,600
customer checks waiting to be deposited 1,200
treasury bills, purchased on 11/1/2016, mature on 4/30/2017 3,000
marketable equity securities 10,200
commercial paper, purchased on 11/1/2016, mature on 1/30/2017 5,000
what amount will cashmere soap include in its year-end balance sheet as cash and cash equivalents?
a) $9,450.
b) $12,450.
c) $7,450.
d) $19,650.

Option A.

Explanation:

On 12/31/2016

Currency and coins = $650

Balance in checking account = $2600

Customer checks waiting to be deposited = $1,200

Treasury bills, purchased on 11/1/2016, mature on 4/30/2017 = $3,000

Marketable equity securities = $10,200

Commercial paper, purchased on 11/1/2016, mature on 1/30/2017 = $5,000

We need to find the amount of cash and cash equivalents in its year-end balance sheet.

We need to add Currency and coins, Balance in checking account, Customer checks waiting to be deposited and Commercial paper.

Therefore, the correct option is A.

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explanation:

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